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Molded Foam Market Size

Report ID: GMI7664
Published Date: Dec 2023
Report Format: PDF

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Molded Foam Market Size

Molded Foam Market was valued at around USD 16.1 billion in 2023 and is anticipated to grow at a CAGR of around 4.2% between 2024 & 2032.

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Molded foams, such as polyurethane, expanded polystyrene, and other variants, are witnessing heightened demand due to their versatility in applications ranging from automotive components and furniture to packaging and construction. As industries prioritize energy efficiency, safety, and sustainability, molded foams serve as an attractive solution, offering insulation properties, impact resistance, and design flexibility. Additionally, the expanding automotive and construction sectors, coupled with the rising trend of e-commerce packaging, further fuel the demand for molded foams, making them a pivotal element in modern manufacturing processes and driving the overall growth of the market.

Molded Foam Market Report Attributes
Report Attribute	Details
Base Year:	2023
Molded Foam Market Size in 2023:	USD 16.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.2%
2032 Value Projection:	USD 23.4 Billion
Historical Data for:	2018 - 2022
No. of Pages:	200
Tables, Charts & Figures:	246
Segments covered:	Type, Form, Applications, Material
Growth Drivers:	Surge in E-commerce and Packaging Expanding Construction Sector
Pitfalls & Challenges:	Raw Material Price Volatility

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The industry heavily relies on petrochemical-based materials, and fluctuations in crude oil prices can impact the overall production costs of molded foams. Sudden price hikes in raw materials can pose challenges for manufacturers, affecting profit margins and potentially hindering market growth. Adapting to and mitigating the impact of raw material price fluctuations becomes crucial for sustained success in the molded foam industry.

Authors: Kiran Pulidindi, Gauri Wani

Frequently Asked Questions (FAQ) :

Market size for molded foam was valued at around USD 16.1 billion in 2023 and is estimated to reach USD 23.4 billion by 2032, owing to versatility in applications ranging from automotive components and furniture to packaging and construction.

Seating segment held a dominant market share of around 31% in 2023 and is expected to grow at a lucrative pace through 2032, favored by the ideal combination of support and comfort offered by the molded foam in furniture, automotive interiors, and others.

North America industry for molded foam accounted for USD 6.7 billion in 2023 and is anticipated to expand at a significant pace from 2024 to 2032, attributed to the region's robust economic conditions, coupled with flourishing construction sector

BASF SE, Dow Inc., Covestro AG, Carpenter Technology Corporation, Recticel NV, Armacell International S.A., Knauf Industries, Asahi Kasei Corporation and Sumitomo Chemical Co., Ltd.